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Japanese firms plan exit from China amid US tariffs

2019-06-03 10:13:41       source:Straits Times

June 3, 2019

TOKYO (THE YOMIURI SHIMBUN/ASIA NEWS NETWORK) - A growing number of Japanese companies are relocating their production bases from China to other countries over fears of reduced price competitiveness caused by the expected hike in US tariffs on Chinese goods.

The United States has imposed incrementally higher punitive tariffs on imports from China. Should the tariffs expand to cover most Chinese-manufactured products, many goods produced by Japanese firms in China will become more costly and less competitive.

The escalating US-China spat, which began in summer 2018, is unlikely to be resolved soon following the implementation of the third round of Chinese tariffs on US goods on Saturday (June 1).

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